Pertamina and Iran’s NIOC signed LPG contract, explores crude oil contract

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Energy and Resources Mineral Minister Sudirman Said (left) and Oil Minister of Iran Bejan N. Zanganeh (right) - Photo by IRNA

JAKARTA (TheInsiderStories) – Indonesia state-owned energy PT Pertamina and National Iranian Oil Company (NIOC) signed liquid petroleum gas (LPG) contract 88.000 tonnes in 2016, said senior official. For longterm contract, Iran eyes to deliver 500.000 tonnes of LPG to Indonesia. 

The contract signed witnesses by Energy and Resources Mineral Minister Sudirman Said and Oil Minister of Iran Bejan N. Zanganeh during his visit in Iran. He said, the needs of LPG in Indonesia 6 million tonnes per annum and more than half need to import.  

Signing of the Liquefied Petroleum Gas (LPG) contract with Tehran is a turning point and the first step towards enhancing cooperation between Iran and Indonesia, Sudirman stated.

Beside LPG’s contract, Pertamina-NIOC also agreed to conduct further discussions regarding the purchase of crude oil and access to upstream investment in Iran. Indonesia imports half of its cured oil needs and it is ready to buy 150,000-200,000 barrel oil per day of crude oil from Iran.

“We also explore the opportunities long-term cooperation, such as investment upstream oil and gas and human resource development, ” He said.

According to Sudirman, there are seven oil and gas cooperation was agreed such as upstream oil and gas cooperation in Iran, trading oil products, gas projects, oil processing, petrochemical, oil and gas support industry, to increase the capacity of human resources in the field of oil and gas.

In his speech, Minister Zanganeh expressed, “During this time the relationship between Indonesia and Iran is very sincere and friendly. We were waiting for the arrival of Pertamina soon to Iran to cooperate with the National Iranian Oil Company (NIOC).”

Sudirman stressed, Pertamina is interested in two work areas in Iran in the near future will be auctioned. In addition, the investment plan was also discussed Iran and supply of crude oil to the private refinery in Situbondo, East Java. Pertamina could be the off-taker of private refinery products.

The post Pertamina and Iran’s NIOC signed LPG contract, explores crude oil contract appeared first on The Insider Stories.

Source: The Insiderstories
Pertamina and Iran’s NIOC signed LPG contract, explores crude oil contract

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